Expectations at Thyssenkrupp were not high anyway. Now the industrial group is adjusting its forecast for the current fiscal year further downwards.
The industrial group Thyssenkrupp is becoming even more pessimistic about the current fiscal year. The main reason for this is the ongoing challenging market environment, which is leading, among other things, to a significant drop in sales in the current fiscal year, the company said in a statement. A short-term market stabilization in the current fiscal year is currently not foreseeable. The efficiency improvement measures introduced have successfully counteracted the negative developments in the market, but cannot fully compensate for them. Thyssenkrupp last lowered its expectations in mid-May when presenting its quarterly figures.
For the 2023/24 financial year, the group now expects a decline in sales of six to eight percent. Thyssenkrupp had previously expected revenue to be below the previous year’s figure. Adjusted EBIT (earnings before interest and taxes) is expected to reach a value above 500 million euros. Previously, EBIT had been expected to be in the high three-digit million euro range.
According to preliminary figures, sales in the third quarter of the business year were around 9 billion euros, a good 6 percent below the corresponding figure for the previous year. Experts had expected almost 300 million euros more. Adjusted EBIT fell by more than a third to 150 million euros.
Source: Stern
